Montreal, Quebec, November 20, 2023 - Aya Gold & Silver Inc. (TSX: AYA; OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.
The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers (“km²”).
Key Highlights[1]
- Definition of new high-grade mineralization from the infill drilling program:
- BOU-DD23-180 intersected 1,039 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 23.5 meters (“m”) (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
- BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.7 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
- BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
- BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
- BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
- BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
- Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
- Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.
“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”
[1] All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag
Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)
| DDH No. | Section | Zone | From (m) |
To (m) |
Au (g/t) |
Ag (g/t) |
Length* (m) |
Cu (%) |
Pb (%) |
Zn (%) |
Mo (g/t) |
Ag Eq** (g/t) |
| BOU-DD23-172 | 8550N | Para | 141.5 | 146.1 | 4.59 | 99 | 4.6 | 0.1 | 0.9 | 2.3 | 135 | 694 |
| BOU-DD23-172 | 8550N | Main | 151.8 | 155.5 | 22.03 | 531 | 3.7 | 0.2 | 0.3 | 1.3 | 9 | 2689 |
| BOU-DD23-172 | 8550N | Para | 163.5 | 169.2 | 2.61 | 100 | 5.7 | 0.1 | 0.1 | 4.1 | 8 | 589 |
| Including | 165.2 | 168.6 | 3.96 | 150 | 3.4 | 0.2 | 0.2 | 6.4 | 11 | 902 | ||
| BOU-DD23-173 | 8025N | Main | 203.5 | 214.1 | 1.60 | 22 | 10.6 | 0.0 | 0.1 | 1.2 | 6 | 246 |
| BOU-DD23-176 | 8275N | Main | 69.1 | 99.7 | 1.42 | 20 | 30.6 | 0.0 | 0.3 | 0.6 | 8 | 202 |
| BOU-DD23-178 | 8275N | Main | 166.4 | 175.9 | 2.70 | 49 | 9.5 | 0.2 | 1.8 | 4.2 | 36 | 613 |
| Including | 165.4 | 167.7 | 6.49 | 125 | 2.3 | 0.3 | 1.3 | 12.3 | 4 | 1476 | ||
| BOU-DD23-179 | 8225N | Main | 70.3 | 82.2 | 1.52 | 8 | 11.9 | 0.0 | 0.5 | 1.4 | 18 | 246 |
| BOU-DD23-180 | 8375N | Para | 127.7 | 136.5 | 1.27 | 21 | 8.8 | 0.0 | 0.5 | 2.5 | 17 | 298 |
| BOU-DD23-180 | 8375N | Main | 165.1 | 188.6 | 6.41 | 116 | 23.5 | 0.4 | 0.6 | 4.7 | 3 | 1039 |
| BOU-DD23-180 | 8375N | Para | 248.5 | 282.4 | 0.64 | 24 | 33.9 | 0.0 | 0.3 | 0.5 | 5 | 128 |
| BOU-DD23-184 | 8225N | Main | 104.8 | 134.9 | 2.57 | 85 | 30.1 | 0.1 | 0.6 | 2.2 | 15 | 474 |
| Including | 104.8 | 108.0 | 6.69 | 528 | 3.2 | 0.1 | 0.8 | 2.6 | 8 | 1339 | ||
| Including | 130.5 | 133.9 | 5.65 | 120 | 3.4 | 0.2 | 1.6 | 8.1 | 91 | 1169 | ||
| BOU-DD23-186 | 8175N | Main | 37.8 | 54.4 | 1.85 | 150 | 16.6 | 0.1 | 0.3 | 1.9 | 8 | 442 |
| Including | 45.4 | 48.1 | 6.03 | 381 | 2.7 | 0.2 | 0.5 | 1.7 | 12 | 1088 | ||
| BOU-DD23-187 | 8225N | Main | 183.6 | 193.3 | 1.27 | 33 | 9.7 | 0.0 | 0.2 | 1.9 | 33 | 271 |
| BOU-DD23-189 | 8175N | Main | 92.5 | 97.3 | 4.00 | 126 | 4.8 | 0.1 | 1.5 | 1.4 | 14 | 642 |
| Including | 94.3 | 97.3 | 5.95 | 179 | 3.0 | 0.2 | 2.2 | 1.2 | 15 | 896 | ||
| BOU-DD23-189 | 8175N | Para | 103.1 | 114.7 | 1.38 | 68 | 11.6 | 0.1 | 0.1 | 2.9 | 33 | 366 |
| BOU-DD23-191 | 8175N | Main | 158.5 | 169.5 | 1.61 | 30 | 11.0 | 0.1 | 0.2 | 3.4 | 12 | 377 |
| Including | 158.5 | 167.5 | 1.87 | 33 | 9.0 | 0.1 | 0.2 | 3.7 | 7 | 423 | ||
| BOU-DD23-198 | 8675N | Para | 185.8 | 196.1 | 2.59 | 63 | 10.3 | 0.2 | 0.2 | 2.1 | 6 | 451 |
| Including | 185.8 | 189.4 | 6.21 | 144 | 3.6 | 0.5 | 0.4 | 3.7 | 5 | 1006 | ||
| BOU-DD23-200 | 8175N | Main | 244.3 | 248.5 | 3.47 | 80 | 4.2 | 0.3 | 0.1 | 1.0 | 19 | 506 |
| BOU-DD23-202 | 8675N | Main | 349.2 | 355.2 | 4.31 | 129 | 6.0 | 0.1 | 0.6 | 1.4 | 41 | 645 |
| Including | 352.3 | 354.0 | 10.11 | 339 | 1.7 | 0.3 | 1.2 | 2.8 | 54 | 1522 | ||
* True width remains undetermined at this stage; all values are uncut.
** Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag;
1% Zn: 54.1 Ag.
Figure 1: Location of New Boumadine Permits
Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes
2023 Exploration Results
To date, 159 diamond drill holes (“DDH”) for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).
Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).
Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.
The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.
Figure 3 – Longitudinal View of Boumadine Main Zone
Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results
Next Steps
The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.
Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.
Technical Information
Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.
Qualified Person
The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.
About Aya Gold & Silver Inc.
Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.
The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.
Aya’s management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.
For additional information, please visit Aya’s website at www.ayagoldsilver.com or contact:
| Benoit La Salle, FCPA, MBA
President & CEO benoit.lasalle@ayagoldsilver.com |
Alex Ball
VP, Corporate Development & IR
|
Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management's expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “confirm”, “potential”, “complete”, “expect” “extend”, “belief”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Boumadine and the advancement of and success of the exploration program at Boumadine , and timing for the release of the Company's disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.
The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya's 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.
Appendix 1 – Full Drill Results from Boumadine (core lengths)
| DDH No. | Section | Zone | From (m) |
To (m) |
Au (g/t) |
Ag (g/t) |
Length* (m) |
Cu (%) |
Pb (%) |
Zn (%) |
Mo (g/t) |
Ag Eq** (g/t) |
| BOU-DD23-165 | 8125N | Para | 280.1 | 282.1 | 4.69 | 84 | 2.0 | 0.3 | 0.1 | 0.3 | 47 | 589 |
| BOU-DD23-165 | 8125N | Para | 297.0 | 298.0 | 0.37 | 24 | 1.0 | 0.0 | 0.1 | 2.6 | 8 | 209 |
| BOU-DD23-165 | 8125N | Para | 333.0 | 333.5 | 0.26 | 42 | 0.5 | 0.0 | 1.3 | 4.1 | 7 | 327 |
| BOU-DD23-165 | 8125N | Main | 462.7 | 463.7 | 0.36 | 12 | 1.0 | 0.0 | 0.1 | 0.2 | 4 | 60 |
| BOU-DD23-165 | 8125N | Para | 546.2 | 546.9 | 0.60 | 25 | 0.7 | 0.0 | 0.5 | 0.6 | 4 | 127 |
| BOU-DD23-166 | 8850N | Para | 140.0 | 141.0 | 0.32 | 43 | 1.0 | 0.0 | 0.1 | 0.8 | 2 | 119 |
| BOU-DD23-166 | 8850N | Para | 141.7 | 142.5 | 0.09 | 48 | 0.8 | 0.0 | 0.3 | 0.6 | 9 | 99 |
| BOU-DD23-167 | 8025N | NSR | 0.0 | 163.4 | 0.00 | 0 | 163.4 | 0.0 | 0.0 | 0.0 | 0 | 0 |
| BOU-DD23-168 | 8325N | Para | 125.4 | 126.4 | 4.35 | 16 | 1.0 | 0.0 | 0.4 | 0.8 | 1 | 480 |
| BOU-DD23-170 | 8025N | Para | 67.3 | 68.9 | 0.36 | 23 | 1.6 | 0.0 | 0.2 | 0.3 | 85 | 84 |
| BOU-DD23-170 | 8025N | Main | 86.5 | 87.6 | 2.59 | 63 | 1.1 | 0.1 | 0.3 | 0.6 | 304 | 382 |
| BOU-DD23-170 | 8025N | Para | 124.3 | 126.5 | 0.48 | 4 | 2.2 | 0.0 | 0.1 | 0.5 | 8 | 84 |
| BOU-DD23-172 | 8550N | Para | 128.3 | 130.1 | 0.26 | 23 | 1.8 | 0.0 | 0.6 | 0.7 | 68 | 108 |
| BOU-DD23-172 | 8550N | Para | 141.5 | 146.1 | 4.59 | 99 | 4.6 | 0.1 | 0.9 | 2.3 | 135 | 694 |
| BOU-DD23-172 | 8550N | Main | 151.8 | 155.5 | 22.03 | 531 | 3.7 | 0.2 | 0.3 | 1.3 | 9 | 2689 |
| BOU-DD23-172 | 8550N | Para | 163.5 | 169.2 | 2.61 | 100 | 5.7 | 0.1 | 0.1 | 4.1 | 8 | 589 |
| Including | 165.2 | 168.6 | 3.96 | 150 | 3.4 | 0.2 | 0.2 | 6.4 | 11 | 902 | ||
| BOU-DD23-172 | 8550N | Para | 244.8 | 245.6 | 1.29 | 41 | 0.8 | 0.0 | 0.2 | 0.4 | 3 | 194 |
| BOU-DD23-173 | 8025N | Para | 127.4 | 128.6 | 0.54 | 16 | 1.2 | 0.0 | 0.1 | 0.4 | 15 | 95 |
| BOU-DD23-173 | 8025N | Main | 203.5 | 214.1 | 1.60 | 22 | 10.6 | 0.0 | 0.1 | 1.2 | 6 | 246 |
| Including | 209.3 | 214.1 | 2.67 | 32 | 4.8 | 0.1 | 0.2 | 2.0 | 8 | 407 | ||
| BOU-DD23-174 | 8025N | Main | 287.1 | 290.3 | 1.90 | 40 | 3.2 | 0.1 | 0.2 | 0.3 | 19 | 260 |
| Including | 288.1 | 289.3 | 4.04 | 80 | 1.2 | 0.3 | 0.3 | 0.3 | 27 | 530 | ||
| BOU-DD23-174 | 8025N | Para | 435.0 | 435.5 | 3.29 | 126 | 0.5 | 0.2 | 0.7 | 0.3 | 4 | 492 |
| BOU-DD23-175 | 8025N | Para | 108.1 | 108.8 | 0.28 | 21 | 0.7 | 0.1 | 0.5 | 2.4 | 12 | 205 |
| BOU-DD23-175 | 8025N | Para | 183.6 | 187.0 | 0.05 | 45 | 3.4 | 0.0 | 5.7 | 1.5 | 9 | 317 |
| BOU-DD23-175 | 8025N | Main | 269.3 | 270.3 | 0.16 | 16 | 1.0 | 0.0 | 1.5 | 2.1 | 22 | 195 |
| BOU-DD23-176 | 8275N | Para | 45.3 | 46.0 | 0.54 | 13 | 0.7 | 0.0 | 0.1 | 5.1 | 15 | 347 |
| BOU-DD23-176 | 8275N | Para | 49.5 | 50.6 | 0.47 | 8 | 1.1 | 0.0 | 0.1 | 0.3 | 6 | 73 |
| BOU-DD23-176 | 8275N | Main | 69.1 | 99.7 | 1.42 | 20 | 30.6 | 0.0 | 0.3 | 0.6 | 8 | 202 |
| BOU-DD23-177 | 8850N | Main | 31.9 | 34.8 | 3.40 | 120 | 2.9 | 0.0 | 1.5 | 0.1 | 17 | 494 |
| BOU-DD23-177 | 8850N | Para | 43.0 | 44.0 | 0.76 | 29 | 1.0 | 0.0 | 0.7 | 0.7 | 24 | 160 |
| BOU-DD23-178 | 8275N | Para | 113.1 | 117.5 | 2.32 | 28 | 4.4 | 0.0 | 0.3 | 1.3 | 4 | 333 |
| BOU-DD23-178 | 8275N | Para | 132.1 | 132.8 | 0.39 | 40 | 0.7 | 0.0 | 1.6 | 2.2 | 2 | 251 |
| BOU-DD23-178 | 8275N | Para | 139.5 | 142.0 | 1.21 | 46 | 2.5 | 0.0 | 0.4 | 1.9 | 6 | 280 |
| BOU-DD23-178 | 8275N | Para | 151.8 | 152.7 | 0.76 | 12 | 0.9 | 0.0 | 0.2 | 0.3 | 2 | 107 |
| BOU-DD23-178 | 8275N | Para | 156.1 | 158.3 | 2.66 | 59 | 2.2 | 0.2 | 0.1 | 0.2 | 5 | 348 |
| BOU-DD23-178 | 8275N | Main | 166.4 | 175.9 | 2.70 | 49 | 9.5 | 0.2 | 1.8 | 4.2 | 36 | 613 |
| Including | 165.4 | 167.7 | 6.49 | 125 | 2.3 | 0.3 | 1.3 | 12.3 | 4 | 1476 | ||
| BOU-DD23-179 | 8225N | Para | 22.4 | 22.9 | 0.66 | 64 | 0.5 | 0.0 | 1.5 | 5.3 | 75 | 467 |
| BOU-DD23-179 | 8225N | Para | 24.5 | 25.0 | 0.73 | 33 | 0.5 | 0.1 | 0.5 | 2.8 | 16 | 271 |
| BOU-DD23-179 | 8225N | Para | 38.0 | 38.6 | 0.39 | 12 | 0.6 | 0.0 | 0.1 | 1.0 | 8 | 110 |
| BOU-DD23-179 | 8225N | Para | 44.0 | 47.4 | 1.17 | 28 | 3.4 | 0.0 | 0.1 | 1.1 | 17 | 203 |
| BOU-DD23-179 | 8225N | Main | 70.3 | 82.2 | 1.52 | 8 | 11.9 | 0.0 | 0.5 | 1.4 | 18 | 246 |
| BOU-DD23-180 | 8375N | Para | 104.7 | 105.6 | 0.40 | 24 | 0.9 | 0.0 | 0.9 | 2.3 | 1 | 217 |
| BOU-DD23-180 | 8375N | Para | 127.7 | 136.5 | 1.27 | 21 | 8.8 | 0.0 | 0.5 | 2.5 | 17 | 298 |
| Including | 129.4 | 133.5 | 2.18 | 31 | 4.1 | 0.1 | 0.3 | 3.4 | 28 | 440 | ||
| BOU-DD23-180 | 8375N | Para | 144.6 | 148.2 | 0.69 | 18 | 3.6 | 0.0 | 0.3 | 0.8 | 5 | 141 |
| BOU-DD23-180 | 8375N | Para | 155.6 | 156.4 | 0.59 | 24 | 0.8 | 0.0 | 0.3 | 2.2 | 107 | 217 |
| BOU-DD23-180 | 8375N | Para | 157.3 | 157.9 | 0.49 | 12 | 0.6 | 0.0 | 0.2 | 1.8 | 11 | 161 |
| BOU-DD23-180 | 8375N | Para | 159.8 | 160.3 | 2.62 | 67 | 0.5 | 0.1 | 0.5 | 3.7 | 7 | 538 |
| BOU-DD23-180 | 8375N | Main | 165.1 | 188.6 | 6.41 | 116 | 23.5 | 0.4 | 0.6 | 4.7 | 3 | 1039 |
| BOU-DD23-180 | 8375N | Para | 248.5 | 282.4 | 0.64 | 24 | 33.9 | 0.0 | 0.3 | 0.5 | 5 | 128 |
| BOU-DD23-180 | 8375N | Para | 296.0 | 297.0 | 0.64 | 8 | 1.0 | 0.0 | 0.0 | 0.1 | 11 | 73 |
| BOU-DD23-180 | 8375N | Para | 301.0 | 302.0 | 0.42 | 12 | 1.0 | 0.0 | 0.3 | 0.5 | 6 | 88 |
| BOU-DD23-181 | 8025N | Main | 345.1 | 345.9 | 0.99 | 48 | 0.8 | 0.1 | 2.4 | 2.6 | 3 | 376 |
| BOU-DD23-181 | 8025N | Para | 357.2 | 358.3 | 0.34 | 59 | 1.1 | 0.2 | 6.1 | 7.5 | 3 | 717 |
| BOU-DD23-181 | 8025N | Para | 480.2 | 480.7 | 0.35 | 33 | 0.5 | 0.0 | 1.3 | 0.9 | 34 | 159 |
| BOU-DD23-181 | 8025N | Para | 537.1 | 538.3 | 0.03 | 136 | 1.2 | 0.0 | 0.4 | 0.2 | 8 | 163 |
| BOU-DD23-182 | 8275N | Para | 145.3 | 145.9 | 0.74 | 24 | 0.6 | 0.0 | 0.9 | 1.4 | 45 | 202 |
| BOU-DD23-182 | 8275N | Para | 177.9 | 181.0 | 0.50 | 30 | 3.1 | 0.0 | 1.0 | 2.4 | 12 | 243 |
| BOU-DD23-182 | 8275N | Main | 189.2 | 192.0 | 0.82 | 23 | 2.8 | 0.1 | 2.0 | 1.2 | 31 | 248 |
| BOU-DD23-182 | 8275N | Para | 196.2 | 199.2 | 0.67 | 17 | 3.0 | 0.0 | 0.8 | 1.6 | 7 | 198 |
| BOU-DD23-182 | 8275N | Para | 201.2 | 205.4 | 0.43 | 16 | 4.2 | 0.0 | 0.6 | 2.1 | 4 | 190 |
| BOU-DD23-183 | 8025N | Para | 105.8 | 107.0 | 1.02 | 48 | 1.2 | 0.1 | 0.0 | 0.0 | 3 | 160 |
| BOU-DD23-183 | 8025N | Para | 287.7 | 288.7 | 0.64 | 7 | 1.0 | 0.0 | 0.3 | 0.1 | 6 | 85 |
| BOU-DD23-183 | 8025N | Para | 364.9 | 366.2 | 0.38 | 16 | 1.3 | 0.1 | 0.1 | 0.2 | 7 | 75 |
| BOU-DD23-183 | 8025N | Main | 507.6 | 514.0 | 0.80 | 23 | 6.4 | 0.0 | 0.4 | 0.6 | 10 | 146 |
| Including | 508.2 | 510.0 | 1.85 | 20 | 1.8 | 0.1 | 0.3 | 0.6 | 10 | 244 | ||
| BOU-DD23-184 | 8225N | Para | 59.7 | 60.2 | 0.52 | 33 | 0.5 | 0.0 | 0.6 | 4.6 | 40 | 358 |
| BOU-DD23-184 | 8225N | Main | 104.8 | 134.9 | 2.57 | 85 | 30.1 | 0.1 | 0.6 | 2.2 | 15 | 474 |
| Including | 104.8 | 108.0 | 6.69 | 528 | 3.2 | 0.1 | 0.8 | 2.6 | 8 | 1339 | ||
| Including | 130.5 | 133.9 | 5.65 | 120 | 3.4 | 0.2 | 1.6 | 8.1 | 91 | 1169 | ||
| BOU-DD23-184 | 8225N | Para | 135.9 | 136.9 | 0.36 | 12 | 1.0 | 0.0 | 0.3 | 5.7 | 9 | 369 |
| BOU-DD23-185 | 8375N | Para | 143.4 | 145.4 | 0.56 | 24 | 2.0 | 0.0 | 0.5 | 1.0 | 11 | 148 |
| BOU-DD23-185 | 8375N | Para | 175.6 | 176.5 | 4.97 | 252 | 0.9 | 0.4 | 2.7 | 8.5 | 16 | 1314 |
| BOU-DD23-185 | 8375N | Main | 204.6 | 210.9 | 0.16 | 1 | 6.3 | 0.0 | 0.0 | 0.1 | 11 | 26 |
| BOU-DD23-185 | 8375N | Para | 244.3 | 244.8 | 0.14 | 46 | 0.5 | 0.0 | 1.1 | 1.6 | 11 | 182 |
| BOU-DD23-186 | 8175N | Main | 37.8 | 54.4 | 1.85 | 150 | 16.6 | 0.1 | 0.3 | 1.9 | 8 | 442 |
| Including | 45.4 | 48.1 | 6.03 | 381 | 2.7 | 0.2 | 0.5 | 1.7 | 12 | 1088 | ||
| BOU-DD23-187 | 8225N | Para | 62.4 | 62.9 | 0.25 | 102 | 0.5 | 0.0 | 1.1 | 2.2 | 9 | 285 |
| BOU-DD23-187 | 8225N | Para | 157.4 | 157.9 | 0.97 | 77 | 0.5 | 0.0 | 1.8 | 2.8 | 20 | 378 |
| BOU-DD23-187 | 8225N | Para | 165.2 | 167.2 | 0.23 | 29 | 2.0 | 0.0 | 0.3 | 0.8 | 6 | 104 |
| BOU-DD23-187 | 8225N | Para | 168.2 | 169.1 | 0.24 | 34 | 0.9 | 0.0 | 2.0 | 1.6 | 12 | 206 |
| BOU-DD23-187 | 8225N | Main | 183.6 | 193.3 | 1.27 | 33 | 9.7 | 0.0 | 0.2 | 1.9 | 33 | 271 |
| Including | 188.9 | 192.3 | 2.19 | 44 | 3.4 | 0.1 | 0.2 | 3.6 | 61 | 462 | ||
| BOU-DD23-187 | 8225N | Para | 195.4 | 196.5 | 0.44 | 16 | 1.1 | 0.0 | 0.3 | 1.4 | 6 | 146 |
| BOU-DD23-188 | 8275N | Para | 9.0 | 10.0 | 0.03 | 56 | 1.0 | 0.0 | 9.8 | 0.7 | 9 | 407 |
| BOU-DD23-188 | 8275N | Para | 104.3 | 105.0 | 0.14 | 40 | 0.7 | 0.0 | 0.2 | 0.7 | 4 | 103 |
| BOU-DD23-188 | 8275N | Para | 179.2 | 180.2 | 0.32 | 36 | 1.0 | 0.0 | 0.4 | 1.6 | 9 | 168 |
| BOU-DD23-188 | 8275N | Para | 185.5 | 186.0 | 7.80 | 162 | 0.5 | 0.3 | 0.3 | 0.7 | 117 | 978 |
| BOU-DD23-188 | 8275N | Para | 190.9 | 191.4 | 0.47 | 41 | 0.5 | 0.0 | 1.0 | 3.1 | 8 | 289 |
| BOU-DD23-188 | 8275N | Para | 194.7 | 195.3 | 0.42 | 44 | 0.6 | 0.1 | 0.8 | 2.1 | 7 | 231 |
| BOU-DD23-188 | 8275N | Main | 216.8 | 218.8 | 1.37 | 26 | 2.0 | 0.0 | 0.3 | 0.3 | 5 | 188 |
| BOU-DD23-188 | 8275N | Para | 238.9 | 239.4 | 0.38 | 50 | 0.5 | 0.0 | 0.9 | 2.2 | 2 | 237 |
| BOU-DD23-188 | 8275N | Para | 280.6 | 283.4 | 0.39 | 36 | 2.8 | 0.0 | 0.2 | 1.2 | 27 | 149 |
| BOU-DD23-189 | 8175N | Para | 77.5 | 78.4 | 0.37 | 36 | 0.9 | 0.1 | 0.8 | 2.7 | 13 | 251 |
| BOU-DD23-189 | 8175N | Para | 89.3 | 90.4 | 0.38 | 24 | 1.1 | 0.0 | 0.3 | 0.7 | 6 | 110 |
| BOU-DD23-189 | 8175N | Main | 92.5 | 97.3 | 4.00 | 126 | 4.8 | 0.1 | 1.5 | 1.4 | 14 | 642 |
| Including | 94.3 | 97.3 | 5.95 | 179 | 3.0 | 0.2 | 2.2 | 1.2 | 15 | 896 | ||
| BOU-DD23-189 | 8175N | Para | 100.2 | 101.2 | 0.35 | 20 | 1.0 | 0.0 | 0.0 | 0.1 | 12 | 61 |
| BOU-DD23-189 | 8175N | Para | 103.1 | 114.7 | 1.38 | 68 | 11.6 | 0.1 | 0.1 | 2.9 | 33 | 366 |
| BOU-DD23-190 | 8375N | Para | 26.7 | 27.6 | 0.18 | 42 | 0.9 | 0.0 | 1.5 | 2.8 | 26 | 259 |
| BOU-DD23-190 | 8375N | Main | 249.1 | 250.9 | 0.14 | 79 | 1.8 | 0.0 | 0.7 | 1.2 | 56 | 183 |
| BOU-DD23-191 | 8175N | Para | 122.8 | 123.5 | 0.22 | 37 | 0.7 | 0.0 | 0.3 | 5.1 | 1 | 343 |
| BOU-DD23-191 | 8175N | Para | 140.9 | 142.0 | 1.08 | 12 | 1.1 | 0.0 | 0.2 | 0.6 | 1 | 154 |
| BOU-DD23-191 | 8175N | Main | 158.5 | 169.5 | 1.61 | 30 | 11.0 | 0.1 | 0.2 | 3.4 | 12 | 377 |
| Including | 158.5 | 167.5 | 1.87 | 33 | 9.0 | 0.1 | 0.2 | 3.7 | 7 | 423 | ||
| BOU-DD23-192 | 8225N | Para | 11.4 | 13.8 | 0.22 | 54 | 2.4 | 0.0 | 0.1 | 0.2 | 1 | 91 |
| BOU-DD23-192 | 8225N | Para | 127.2 | 127.7 | 0.64 | 63 | 0.5 | 0.0 | 1.3 | 3.2 | 4 | 343 |
| BOU-DD23-192 | 8225N | Main | 226.1 | 230.8 | 1.75 | 41 | 4.7 | 0.1 | 0.2 | 0.4 | 19 | 241 |
| Including | 228.1 | 230.8 | 2.31 | 58 | 2.7 | 0.1 | 0.3 | 0.5 | 12 | 323 | ||
| BOU-DD23-192 | 8225N | Para | 338.2 | 339.3 | 14.62 | 1 | 1.1 | 0.0 | 0.0 | 0.0 | 9 | 1371 |
| BOU-DD23-194 | 8275N | Para | 76.5 | 77.2 | 2.91 | 632 | 0.7 | 0.1 | 1.2 | 2.0 | 4 | 1063 |
| BOU-DD23-194 | 8275N | Para | 200.7 | 201.7 | 9.14 | 84 | 1.0 | 0.4 | 0.2 | 0.4 | 31 | 1024 |
| BOU-DD23-194 | 8275N | Main | 240.3 | 240.9 | 0.30 | 35 | 0.6 | 0.2 | 1.2 | 7.1 | 35 | 513 |
| BOU-DD23-194 | 8275N | Para | 277.6 | 278.7 | 0.41 | 19 | 1.1 | 0.0 | 1.2 | 1.5 | 20 | 179 |
| BOU-DD23-195 | 8175N | Para | 80.4 | 81.3 | 0.41 | 40 | 0.9 | 0.0 | 0.2 | 0.4 | 1 | 110 |
| BOU-DD23-195 | 8175N | Para | 84.6 | 85.4 | 0.51 | 36 | 0.8 | 0.0 | 1.2 | 2.3 | 4 | 245 |
| BOU-DD23-195 | 8175N | Para | 175.0 | 175.9 | 0.17 | 40 | 0.9 | 0.0 | 0.9 | 2.6 | 5 | 227 |
| BOU-DD23-195 | 8175N | Main | 185.0 | 185.5 | 0.75 | 44 | 0.5 | 0.0 | 1.5 | 3.9 | 1 | 376 |
| BOU-DD23-195 | 8175N | Para | 213.7 | 214.6 | 0.57 | 32 | 0.9 | 0.0 | 0.7 | 1.2 | 7 | 176 |
| BOU-DD23-196 | 8225N | Para | 15.3 | 16.3 | 0.56 | 16 | 1.0 | 0.0 | 0.1 | 0.2 | 19 | 82 |
| BOU-DD23-196 | 8225N | Para | 37.7 | 38.8 | 0.03 | 52 | 1.1 | 0.0 | 0.3 | 1.1 | 6 | 128 |
| BOU-DD23-196 | 8225N | Para | 85.6 | 86.4 | 4.83 | 112 | 0.8 | 0.0 | 0.4 | 0.7 | 1 | 614 |
| BOU-DD23-196 | 8225N | Para | 168.3 | 168.8 | 0.61 | 32 | 0.5 | 0.0 | 0.2 | 5.3 | 24 | 386 |
| BOU-DD23-196 | 8225N | Para | 215.2 | 216.4 | 1.75 | 19 | 1.2 | 0.1 | 2.6 | 1.4 | 25 | 351 |
| BOU-DD23-196 | 8225N | Main | 253.7 | 254.5 | 0.57 | 43 | 0.8 | 0.0 | 0.3 | 3.2 | 35 | 282 |
| BOU-DD23-196 | 8225N | Para | 407.9 | 408.5 | 0.52 | 79 | 0.6 | 0.0 | 0.2 | 1.6 | 5 | 224 |
| BOU-DD23-198 | 8675N | Para | 44.5 | 45.0 | 1.85 | 118 | 0.5 | 0.0 | 1.2 | 2.7 | 1 | 477 |
| BOU-DD23-198 | 8675N | Para | 71.0 | 73.1 | 1.66 | 41 | 2.1 | 0.0 | 1.0 | 2.9 | 44 | 392 |
| BOU-DD23-198 | 8675N | Para | 185.8 | 196.1 | 2.59 | 63 | 10.3 | 0.2 | 0.2 | 2.1 | 6 | 451 |
| Including | 185.8 | 189.4 | 6.21 | 144 | 3.6 | 0.5 | 0.4 | 3.7 | 5 | 1006 | ||
| BOU-DD23-198 | 8675N | Para | 271.3 | 273.4 | 1.85 | 16 | 2.1 | 0.0 | 1.5 | 0.3 | 8 | 255 |
| BOU-DD23-198 | 8675N | Para | 310.3 | 311.6 | 1.67 | 139 | 1.3 | 0.0 | 1.0 | 0.3 | 28 | 345 |
| BOU-DD23-198 | 8675N | Main | 323.3 | 326.0 | 1.50 | 58 | 2.7 | 0.0 | 0.2 | 0.2 | 29 | 216 |
| BOU-DD23-198 | 8675N | Para | 370.2 | 371.2 | 0.22 | 40 | 1.0 | 0.0 | 0.2 | 0.3 | 2 | 85 |
| BOU-DD23-198 | 8675N | Para | 374.4 | 375.4 | 0.45 | 20 | 1.0 | 0.0 | 0.1 | 0.1 | 5 | 72 |
| BOU-DD23-198 | 8675N | Para | 378.6 | 381.1 | 2.11 | 48 | 2.5 | 0.0 | 0.9 | 2.5 | 83 | 415 |
| BOU-DD23-200 | 8175N | Para | 135.5 | 136.3 | 1.87 | 25 | 0.8 | 0.0 | 0.1 | 0.2 | 4 | 214 |
| BOU-DD23-200 | 8175N | Main | 244.3 | 248.5 | 3.47 | 80 | 4.2 | 0.3 | 0.1 | 1.0 | 19 | 506 |
| Including | 244.3 | 246.3 | 5.37 | 124 | 2.0 | 0.5 | 0.1 | 0.6 | 18 | 736 | ||
| BOU-DD23-200 | 8175N | Para | 258.0 | 259.0 | 0.67 | 24 | 1.0 | 0.0 | 0.5 | 3.1 | 11 | 275 |
| BOU-DD23-200 | 8175N | Para | 295.2 | 295.7 | 0.63 | 55 | 0.5 | 0.0 | 0.3 | 4.1 | 53 | 349 |
| BOU-DD23-201 | 8225N | Para | 94.7 | 95.4 | 0.12 | 47 | 0.7 | 0.0 | 0.4 | 0.8 | 4 | 116 |
| BOU-DD23-201 | 8225N | Para | 209.1 | 210.0 | 0.49 | 28 | 0.9 | 0.0 | 1.4 | 1.5 | 5 | 201 |
| BOU-DD23-201 | 8225N | Para | 231.7 | 232.4 | 0.42 | 20 | 0.7 | 0.0 | 0.5 | 1.2 | 9 | 142 |
| BOU-DD23-201 | 8225N | Para | 242.4 | 246.6 | 2.59 | 39 | 4.2 | 0.1 | 0.2 | 0.7 | 9 | 341 |
| Including | 242.4 | 244.0 | 5.06 | 77 | 1.6 | 0.3 | 0.3 | 0.3 | 8 | 613 | ||
| BOU-DD23-201 | 8225N | Main | 315.0 | 316.0 | 0.30 | 32 | 1.0 | 0.1 | 0.8 | 4.7 | 19 | 357 |
| BOU-DD23-202 | 8675N | Para | 95.5 | 96.7 | 1.06 | 48 | 1.2 | 0.0 | 0.5 | 2.2 | 15 | 286 |
| BOU-DD23-202 | 8675N | Para | 104.9 | 105.4 | 1.59 | 110 | 0.5 | 0.0 | 3.0 | 7.9 | 5 | 786 |
| BOU-DD23-202 | 8675N | Para | 223.1 | 226.0 | 3.61 | 67 | 2.9 | 0.1 | 0.3 | 2.8 | 18 | 583 |
| BOU-DD23-202 | 8675N | Para | 227.8 | 229.2 | 0.58 | 11 | 1.4 | 0.0 | 0.1 | 0.3 | 19 | 85 |
| BOU-DD23-202 | 8675N | Para | 239.0 | 239.5 | 2.48 | 42 | 0.5 | 0.1 | 0.5 | 11.3 | 37 | 909 |
| BOU-DD23-202 | 8675N | Para | 242.6 | 243.2 | 0.72 | 24 | 0.6 | 0.0 | 0.6 | 2.3 | 21 | 238 |
| BOU-DD23-202 | 8675N | Para | 250.8 | 251.3 | 0.43 | 36 | 0.5 | 0.0 | 1.1 | 3.5 | 3 | 308 |
| BOU-DD23-202 | 8675N | Para | 266.6 | 267.4 | 0.22 | 35 | 0.8 | 0.0 | 2.8 | 2.4 | 15 | 277 |
| BOU-DD23-202 | 8675N | Main | 349.2 | 355.2 | 4.31 | 129 | 6.0 | 0.1 | 0.6 | 1.4 | 41 | 645 |
| Including | 352.3 | 354.0 | 10.11 | 339 | 1.7 | 0.3 | 1.2 | 2.8 | 54 | 1522 | ||
| BOU-DD23-202 | 8675N | Para | 418.8 | 422.2 | 1.56 | 39 | 3.4 | 0.0 | 0.5 | 0.7 | 2 | 240 |
| BOU-DD23-203 | 8175N | Para | 100.1 | 101.8 | 0.23 | 59 | 1.7 | 0.0 | 0.9 | 1.5 | 3 | 191 |
| BOU-DD23-203 | 8175N | Para | 207.4 | 207.9 | 0.46 | 91 | 0.5 | 0.1 | 1.9 | 4.3 | 6 | 435 |
| BOU-DD23-203 | 8175N | Para | 269.5 | 270.0 | 1.06 | 41 | 0.5 | 0.0 | 0.9 | 2.4 | 4 | 300 |
| BOU-DD23-203 | 8175N | Para | 280.7 | 281.7 | 0.32 | 20 | 1.0 | 0.0 | 0.4 | 0.5 | 9 | 92 |
| BOU-DD23-203 | 8175N | Main | 282.7 | 285.9 | 2.00 | 55 | 3.2 | 0.1 | 0.1 | 0.2 | 12 | 269 |
| BOU-DD23-203 | 8175N | Para | 289.5 | 290.6 | 0.42 | 12 | 1.1 | 0.0 | 0.3 | 1.2 | 10 | 124 |
| BOU-DD23-203 | 8175N | Para | 332.2 | 332.7 | 0.41 | 20 | 0.5 | 0.0 | 0.3 | 4.7 | 9 | 324 |
| BOU-DD23-203 | 8175N | Para | 373.2 | 374.3 | 0.03 | 89 | 1.1 | 0.2 | 0.8 | 1.2 | 7 | 201 |
* True width remains undetermined at this stage; all values are uncut.
** Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag;
1% Zn: 54.1 Ag.
Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)
| DDH No. | Easting | Northing | Elevation | Azimuth | Dip | Length (m) |
| BOU-DD23-213 | 316 991 | 3 474 849 | 1 257 | 70 | -50 | 600.0 |
| BOU-DD23-214 | 317 026 | 3 477 177 | 1 216 | 250 | -50 | 447.1 |
| BOU-DD23-215 | 316 714 | 3 477 378 | 1 220 | 250 | -50 | 330.1 |
| BOU-DD23-216 | 317 077 | 3 474 268 | 1 258 | 70 | -50 | 705.0 |
| BOU-DD23-217 | 316 754 | 3 477 393 | 1 218 | 250 | -50 | 363.8 |
| BOU-DD23-218 | 317 101 | 3 477 207 | 1 208 | 250 | -50 | 483.5 |
| BOU-DD23-219 | 316 868 | 3 477 434 | 1 214 | 250 | -50 | 465.4 |
| BOU-DD23-220 | 317 079 | 3 474 775 | 1 274 | 70 | -50 | 144.5 |
| BOU-DD23-221 | 317 010 | 3 474 750 | 1 263 | 70 | -50 | 369.0 |
| BOU-DD23-222 | 316 483 | 3 477 496 | 1 222 | 250 | -50 | 171.1 |
| BOU-DD23-223 | 317 170 | 3 474 754 | 1 294 | 70 | -50 | 299.4 |
| BOU-DD23-224 | 317 234 | 3 474 537 | 1 283 | 70 | -50 | 302.0 |
| BOU-DD23-225 | 316 552 | 3 477 523 | 1 214 | 250 | -50 | 206.0 |
| BOU-DD23-226 | 316 626 | 3 477 547 | 1 211 | 250 | -50 | 350.2 |
| BOU-DD23-227 | 316 714 | 3 477 576 | 1 214 | 250 | -50 | 356.1 |
| BOU-DD23-228 | 317 161 | 3 474 514 | 1 273 | 70 | -50 | 419.5 |
| BOU-DD23-229 | 317 103 | 3 474 730 | 1 280 | 70 | -50 | 332.3 |
| BOU-DD23-230 | 317 046 | 3 474 763 | 1 270 | 70 | -50 | 261.0 |
| BOU-DD23-232 | 317 456 | 3 476 254 | 1 211 | 250 | -50 | 532.1 |
| BOU-DD23-233 | 317 067 | 3 474 717 | 1 274 | 70 | -50 | 76.5 |
| BOU-DD23-234 | 316 976 | 3 474 737 | 1 259 | 70 | -50 | 501.0 |
| BOU-DD23-235 | 317 036 | 3 474 706 | 1 266 | 70 | -50 | 500.7 |
| BOU-DD23-236 | 317 088 | 3 474 487 | 1 268 | 70 | -50 | 606.2 |
| BOU-DD23-237 | 317 378 | 3 476 226 | 1 209 | 250 | -50 | 600.5 |
| BOU-DD23-238 | 317 298 | 3 476 197 | 1 218 | 250 | -50 | 510.0 |
| BOU-DD23-239 | 316 937 | 3 474 723 | 1 258 | 70 | -50 | 486.7 |
| BOU-DD23-240 | 317 001 | 3 474 693 | 1 260 | 70 | -50 | 466.4 |
| BOU-DD23-242 | 317 227 | 3 476 171 | 1 228 | 250 | -50 | 384.8 |
| BOU-DD23-244 | 317 147 | 3 474 666 | 1 278 | 70 | -50 | 236.6 |